ITC’s ChoupalSaagars see 2-fold rise in cashless transactions

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ITC’s ChoupalSaagars see 2-fold rise in cashless transactions

New Delhi, Apr 27 (PTI) Diversified group ITC today said cashless transactions at its rural malls ChoupalSaagars have increased over 2-fold to 21 per cent from 8 per cent post demonetisation.

ITC, which runs rural engagement programme under its e- Choupal infrastructure has implemented several initiatives to promote cashless transactions through its distribution network for consumer goods.

Besides, the ChoupalSaagar stores and attached fuel stations are now equipped to facilitate cashless transactions, it added.

The company said it has taken several initiatives to promote cashless transactions besides providing facilities for transactions through mobile payment apps like Paytm and BHIM at its ChoupalSaagar stores.

Quoting IT and Electronics Minister Ravi Shankar Prasad, ITC said such initiatives will go a long way in boosting digital payments drive and creating a stronger and more transparent economy.

ITC’s e-Choupal provides farmers access to information on best farming practices, price discovery, weather and crop conditions.

The ChoupalSaagar stores act as an integrated rural hub comprising agri-collection and storage facilities, offering multiple services under one roof.

ITC has set up 23 ChoupalSaagars across MP, UP and Maharashtra that engage with about 4.5 million rural consumers annually. Till 2016, transactions were primarily cash based, requiring significant involvement of manpower, time and cost.

This is published unedited from the PTI feed.